Alexander Corporation reports the following components of stockholders' equity at December 31, 2018 3 Common stock-$25 par value, 50,000 shares authorized, 31,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity $ 275,000 62,000 343,000 $1,180,000 During the year, the following transactions affected its stockholders' equity accounts. Jan. Feb. July Aug. Sept. 2 Purchased 3,100 shares of its own stock at $25 cash per share. 7 Directore declared a $1.50 per share cash dividend payable on February 28 to the February 9 stockholders of record. 28 Paid the dividend declared on January 7. 9 Sold 1,240 of its treasury shares at $30 cash per share. 27 Sold 1,550 of its treasury shares at $20 cash per share. 9 Directors declared a $2 per share cash dividend payable on October 22 to the September 23 stockholders of record. 22 Paid the dividend declared on September 9. 31 closed the $53,000 credit balance (from net income) in the Income Summary account to Retained Earnings. Oct. Dec. Required: 1. Prepare journal entries to record each of these transactions, 2. Prepare a statement of retained earnings for the year ended December 31, 2019. 3. Prepare the stockholders' equity section of the company's balance sheet as of December 31, 2019. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 1 Required 2 Required 3 13 Prepare journal entries to record each of these transactions. View transion list 1 Record the purchase of 3,100 shares of its own common stock for $25 cash per share. 5 cash 2 Record the declaration of a cash dividend of $1.50 per share. 3 Record the payment of the cash dividend declared on January 7. Credit 4 Record the reissue of 1,240 shares of the treasury stock for $30 cash per share. 5 Record the reissue of 1,550 shares of the treasury stock for $20 cash per share. Note : = journal entry has been entered und lournal lese transactions. View transaction list 4 Record the reissue of 1,240 shares of the treasury stock for $30 cash per share. 5 5 Record the reissue of 1,550 shares of the treasury stock for $20 cash per share. 6 Record the declaration of a cash dividend of $2 per share. 7 Cr Record the payment of the cash dividend declared on September 9. 8 Record the entry to close the $53,000 credit balance (from net income) in the Income Summary account to Retained Earnings. Note : = journal entry has been entered Record entry Clear entry Viewg Complete this question by entering your answers in Required 1 Required 2 Required 3 Prepare a statement of retained earnings for the year ende indicated by a minus sign.) ALEXANDER CORPORATION Statement of Retained Earnings For Year Ended December 31
